Quick Guide to the CHS Endowment
Investment of funds and spending policy
Gifts designated to be held in the Permanent Endowment Fund will be managed as a true endowment, meaning the principal will be preserved. Generally, distributions are made under a “total return policy,” meaning the annual distribution is determined based on a percentage of value reflecting both income and appreciation. Various sub-funds of the Permanent Endowment Fund have been established for specific purposes. If a donor does not select a sub-fund, the Vestry will decide the purpose for the gift. Please request a copy of the Investment Policy for more information.
The Permanent Endowment Fund totals $4.6 million. William Blair Private Wealth Management manages the entire Fund except for the sub-fund “Rainy Day Fund.” If a donor does not select a sub-fund, the Vestry will decide the purpose for the gift. Please request a copy of the Investment Policy for more information.
Sub-funds of the permanent endowment fund
Mustard Seed Fund
The Vestry established this sub-fund from a Mustard Seed Initiative lead gift in 2023. The sub-fund supports the general purposes of the parish.
Mustard Seed Mission & Outreach Fund
This sub-fund, established in 2025 by the Vestry, supports CHS Mission & Outreach grants. Each year the CHS Mission & Outreach Committee determines the grant recipients, mostly among public charities in Lake County.
Mustard Seed Music Fund
The Vestry established this sub-fund in 2025. It will be used to preserve and advance the church’s exquisite sacred music and provide special music occasions for everyone. In addition, this fund may be used to support the CHS Choirs on choral pilgrimages and cathedral residencies in England and beyond.
Rainy Day Fund
This sub-fund was established by parishioners in 2025 to balance the CHS annual operating budget by funding budget deficits. The purpose is to enable CHS to provide its greatest gifts in perpetuity, including: sharing the lessons of the Gospel; supporting essential clergy and staff; providing opportunities for spiritual growth; offering meaningful human connection; responding in times of crisis, conflict, or loss; and delivering sacramental passages.
Specific features of this sub-fund include:
- A new RDF Committee will encourage gifts to the Permanent Endowment Fund, with Vestry oversight.
- The RDF is initially invested in the Episcopal Church’s pooled investment trust.
- Annual distributions will not exceed (a) 3% of the RDF, (b) the budget deficit amount, or (c) 15% of budgeted revenue. Additionally (1) up to 10% may be used for facility capital projects, M&O, and other special projects if no amounts have been withdrawn for three consecutive years, and (2) facility capital projects may be funded if the sub-fund value exceeds six times the annual operating budget.